Why vision, mission, and values matter more than ever

In recent years, we’ve witnessed a significant global shift in how businesses define their purpose. The old model – profit above all else – has evolved, almost reversing course or spinning 180 degrees, writes Mark Carter.

When Milton Friedman argued in 1970 that “the social responsibility of business is to increase profits”, it wasn’t intended as a free pass for corporations to act without conscience. Friedman pointed out that only people can have responsibilities; a business is an abstract vehicle.

Over time, society’s expectations have expanded: more than shareholders now matter. In 2019, more than 180 CEOs came together in Washington to endorse a new corporate purpose statement, pledging to serve not just investors but employees, customers, communities, and the environment.

The current US administration may be something of a road bump in this trajectory, a temporary blip, given that broader global perspectives remain focused on greater responsibility toward community and environmental impact, even as economies slowly shift away from older models and resource dependencies like fossil fuels.

This change isn’t theoretical. Brands like Who Gives A Crap, the Australian-founded toilet-paper company, were early movers. Their success is built on a model pledging 50 per cent of profits to global sanitation projects.

In Friedman’s day, such a model would have seemed radical. Today, it's part of a broader cultural shift, particularly among younger generations who believe that what a company stands for, its purpose beyond profit, is just as important as what it makes or does.

Your company’s vision is the aspirational north star. It’s not about quarterly targets or slogans. It’s the long-term picture of how your product or service will improve lives five, ten, twenty, or even more years into the future.

Some of the world’s longest-lived companies, true “forever companies”, show how longevity is anchored in a clear, long-term vision and purpose. In Japan, the concept of shinise refers to firms over 100 years old, with more than 1,200 surviving past 200 years. Kongō Gumi, a construction company purportedly founded in 578 AD, exemplifies how deep-rooted commitment to service and legacy can sustain a business across centuries.

Similarly, in Germany, hundreds of companies with histories exceeding 200 years maintain continuity by balancing stability with long-term strategic purpose. Their endurance demonstrates that vision is more than a statement; it’s the guiding principle that enables organisations to adapt across generations.

Why does vision matter more than ever? Because today’s workforce cares deeply about purpose. According to Deloitte’s 2025 Gen Z and Millennial Survey, 89 per cent of Gen Zs and 92 per cent of Millennials said having a sense of purpose at work is very or somewhat important to their job satisfaction and wellbeing. Nearly half of younger workers have rejected a potential employer or assignment because it didn’t align with their personal values.

That matters. When commitment to a vision is real, it becomes the lens through which every major decision is made, a filter for effort or innovation, risk, and future growth. It means your team isn’t just building a product; they’re contributing to a future with meaning.

If vision is the “why” and even the “where”, your mission becomes the “how”. Mission defines what you do today, who you serve, and what makes you different. It’s not fluff. It’s the operational engine that powers the vision. A mission must be specific and actionable. It sets priorities. It shapes resource allocation. It provides teams with clarity about what to pursue, in addition to what to let go of!

A well-defined mission supports both short-term goals and long-term strategy. For example, if your mission is to empower underserved communities through affordable technology, your short-term priority might be building local partnerships; your long-term priority might be scaling globally while preserving accessibility.

With vision as the star (and mission as the engine), values are the guiding principles, the compass that steers every choice. They are the behaviours, expectations, decisions, and reward systems that give substance to what you say you care about.

In my work, I use a five-element Value Model (first shared in my TEDx talk and published by Wiley) to show how value (what people hold dear) and values (how people act) are deeply interconnected. The word value itself comes from the Latin valere, to be strong, worthy. When value and values align, culture doesn’t just talk about moral worth, it lives it.

When values become hollow, they risk becoming poster artefacts referenced in a prior HR Leader feature: pretty, nice to read, rarely practised. Organisations with toxicity often have this problem: strong slogans, weak follow-through.

When behaviours aren’t recognised or rewarded, values go stale, trust erodes, and the magnetic compass toward your North Star vision becomes compromised. Values only matter when they’re reinforced through accountability. From an HR perspective, embedding values into performance frameworks, through measurable behaviours, recognition programs, and leadership KPIs, ensures they remain active drivers of culture. When accountability aligns with values, employees see fairness in action, and the organisation’s purpose becomes more than aspirational; it becomes operational.

Younger generations are not just the future; they’re the present. Deloitte’s 2025 Gen Z and Millennial Survey highlights that 41 per cent of Gen Zs and 46 per cent of Millennials say their primary job is central to their identity, second only to friends and family, with Deloitte noting that: “Perhaps it is because work is such a significant component of their personal identities that so many want their work to be purpose-driven”. These workers want more than a paycheck; they want to believe in what their company does and why it matters.

Kristine Jarve, Deloitte Baltics managing partner, reinforces that the desires of Gen Zs and millennials increasingly mirror those of all generations: meaningful roles in purposeful companies, freedom to balance work and life, supportive environments promoting mental wellbeing, and opportunities for growth.

Academic research also supports the critical role of values in performance. Another 2021 agent-based model study found that employees’ personal values strongly influence long-term performance, especially when they feel trusted rather than overly monitored.

Behaviours embedded through values aren’t just moral boosters, they’re performance and financial levers too. They determine your priorities, and the measures business owners, Leadership and HR use to tell if the culture is turning out the way it was envisioned.

Importantly, let’s not confuse vision, mission, or values with funky marketing slogans. Taglines may be catchy or go viral, but they don’t guide daily decisions or behaviours. Marketing slogans are outward-facing tools designed to build awareness; vision and mission are your internal operating system.

Similarly, vision isn’t a clever brand promise. It’s a long-term destination, the future state the organisation is striving towards. Values aren't curated Instagram motivational posts or a Pinterest board of inspirational words. They’re the actions, protocols and habits that shape how people show up every day. And when marketing overreaches, trying to be clever with any of these, even the strongest slogans can have the opposite effect.

Latia Curry Harrison, principal at RALLY, highlights how brands like Peloton, L’Oréal, and Starbucks have faced public blowback when they’re perceived as failing to live the values they promote. It’s a reminder that authenticity isn’t optional; behaviours must match branding, or the gap becomes a reputational liability.

By keeping these distinctions clear, companies can avoid being perceived as shallow purpose-washing and instead build something meaningful for both employees and long-term strategy.

When you have a clear vision, a grounded mission and lived values, culture isn’t something that simply happens; it becomes the living canvas every employee contributes to and colours. Culture becomes the sum of daily choices, actions and decisions aligned around something that matters internally for the employees.

One way this plays out is in psychological safety and candour. When employees believe values are real, recognised and fair, they share ideas more freely, challenge bad norms and call out blind spots, reinforcing the mission and keeping the organisation aligned with its vision. Feeling valued and respected comes from the consistency of leadership embodying the company values day in, day out.

When they see values diminished or compromised, especially overlooked in favour of high performers, the opposite happens. Why risk speaking up when the organisation itself isn’t fully committed? In environments where values are loosely held, or only referred to in an induction deck, it's much more difficult for employees to recognise which behaviours are truly valued, what decisions will be supported, and where the boundaries of fairness lie. Without that clarity, trust erodes, engagement declines, and the cultural compass that should guide daily actions becomes blurred.

Another way this plays out is right at the beginning of the hiring process. Incorporating values-based questions into the interview process can uncover alignment or misalignment in behaviours early on. A benefit of embedding the organisation’s vision, mission, and values early in the attraction process is to bring to light the cultural contribution that a potential new hire can bring. The rigidity of striving for “culture fit” is evolving into a modern approach focused on cultural contributions, where employees can add unique perspectives, challenge assumptions, and enrich the organisation’s ethos rather than simply conforming to it. This shift prioritises diversity of thought and inclusion, ensuring culture evolves dynamically while staying anchored to shared values.

Vision, mission, and values aren’t just nice-to-haves; they are foundational to a sustainable and meaningful culture. When aligned, they build the architecture that supports purpose, guards against drift, and provides clarity for future growth.

As society continues to demand accountability, and as new generations prioritise impact over income, these three elements are no longer internal tools; they are external advantages. They define who you are today and, more importantly, shape who you will become tomorrow.

Purpose over paycheck alone is now somewhat a priority. When purpose aligns with action, benefits compound. Employees become more engaged, retention rises, organisational resilience strengthens, and ultimately, a magical single cultural ingredient, discretionary effort, becomes far more likely to be unlocked.

Mark Carter is an international keynote speaker, trainer, TEDx speaker and author.